Fed, other countries cut rates
The Federal Reserve announced a half-point interest rate cut in a coordinated move with other central banks in Europe.
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Interest rates for savings accounts in other countries?
I'm curious as to what the interest rates are for savings accounts in other countries than the U.S. Are they better or worse than over here?
Finding average interest rates on savings accounts worldwide is somewhat difficult. I couldn't find any web site that compiles such information.
It's much easier to compare central bank interest rates and assume that differences in savings account rates are proportional to the differences in central bank rates.
While it may not be accurate, it would at least give you some idea of the potential differences. For example, when you look at the data in the link below, you could reasonably conclude that a savings account in Japan earns almost nothing and a savings account in Switzerland earns less than one in the United States.
See: World Interest Rates Table
http://www.fxstreet.com/fundamental/interest-rates-table/
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Better.
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